Following the latest reports from the Japanese media about the likely economic stimulus package to be announced soon, the country’s PM Shinzo Abe confirmed last minutes that Japan is in the final stages of preparing economic stimulus package.
Earlier today, the Japanese broadcaster NHK reported that Japan govt is considering 25 trillion yen economic stimulus package, with the chatter that the details of the likely stimulus could be announced as soon as this Thursday.
The Yen is seen reversing Monday’s rally on the above headlines, with USD/JPY extending the bounce towards the 5-DMA barrier of 109.35. Broad-based US dollar recovery and an uptick in the S&P 500 futures are also supporting the USD/JPY rebound.
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